US-based financial institution Citizens Financial Group has partnered with Cognizant to establish a Global Capability Centre (GCC) in Hyderabad, Telangana. The new centre was officially inaugurated on April 15 by Telangana IT and Industries Minister D. Sridhar Babu.
The GCC is expected to generate 1,000 jobs by March 2026, further bolstering the state’s growing reputation as a hub for global technology and financial service providers.
Speaking at the launch event, Minister Sridhar Babu said, “Our growth is clearly visible across different metrics. But our aim is even higher. We want to transform Hyderabad from a GCC hub into a Global Value Centre — a place where companies lead with innovation, build intellectual property, and drive product development. This aligns with our larger ambition: to make Telangana the first Indian state to contribute $1 trillion to the national GDP over the next decade.”
The centre is part of a growing trend of multinational banks setting up operations in Hyderabad. Highlighting the city’s prominence, Nageswar Cherukupalli, Senior Vice President at Cognizant, stated that Hyderabad is already home to leading global financial institutions such as Goldman Sachs, Citi Group, JPMorgan Chase, Bank of America, and Wells Fargo.
“Citizens Financial Group now joins this distinguished list as the next top global bank to establish a GCC in the city. We are proud of our partnership with Citizens Bank and of further expanding that collaboration to help set up their GCC in Hyderabad,” Cherukupalli said.
In addition to supporting Citizens Financial Group, Cognizant also announced plans to establish a Banking and Financial Services Innovation Center in Hyderabad. The innovation hub will focus on helping clients improve innovation, operational security and compliance, data and analytics capabilities, and cybersecurity infrastructure.